[ad_1]
Malaysian authorities destroyed more than $ 1.2 million worth of Bitcoin mining rigs after they were confiscated for illegal mining.
In a video released today by the local DayakDaily newspaper, police in the town of Miri on the island of Borneo and the company Sarawak Energy have staged a steamroller to power more than 1,069 Bitcoin (BTC) miners. The platforms were reportedly confiscated from residents of Malaysia who attempted to illegally mine the cryptocurrency using stolen electricity between February and April.
According to a report by Malaysian newspaper The Star on Friday, the scrapping of mining machinery – valued at around $ 1.26 million – took place today at the Miri District Police Headquarters. Authorities said three homes in the area were destroyed this year due to illegal Bitcoin mining, while company Sarawak Energy lost around $ 2 million from operations.
Related: Malaysian crypto miners caught stealing electricity from state
It is not clear why the Malaysian authorities outright destroyed the miners rather than trying to extract some value from the coins. Officials in Iran, Turkey and other countries where mining is banned or restricted have for some time been carrying out raids on illegal crypto mining operations, often resulting in arrests, fines and the seizure of platforms. shapes.
However, there are few to no reports of machines being crushed by a road roller or destroyed so extensively. Chinese authorities reportedly auctioned more than 2,000 drilling rigs in February which had been seized for similar reasons.
The Cambridge Center for Alternative Finance estimates that Malaysia contributed 3.44% of Bitcoin’s total monthly hashrate in April. The country has an annual energy consumption of over 147 terawatt hours.
[ad_2]
Source link